Gold prices in Pakistan have reached a new all-time high, continuing their sharp upward trend amid strong international demand and rising global market rates. On Wednesday, the price of 24-karat gold per tola surged by Rs5,800, pushing it to a record-breaking Rs440,900. The consistent increase in prices has sparked widespread attention among investors, jewellers, and buyers across the country.
Globally, the gold market experienced a significant jump, with the international bullion rate increasing by $58 per ounce, reaching an unprecedented $4,198. Later in the session, spot gold further climbed by 1.5%, trading at $4,203.79 per ounce, after hitting a record high of $4,217.95. The upward momentum in global prices directly influenced domestic markets, driving local rates to new heights.
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In Pakistan, the price of 10 grams of 24-karat gold also witnessed a sharp increase of Rs4,972, reaching Rs378,000. Traders believe this surge is fueled by global economic uncertainty, higher demand for safe-haven assets, and fluctuations in the US dollar. As a result, many investors are turning to gold as a more stable option during times of financial instability.
Moreover, silver prices followed a similar trend, recording an impressive rise of 2.3% to reach $52.64 per ounce, after briefly touching $53.60. The rally in silver is being supported by tightening supply conditions in the spot market, alongside gold’s continuous surge. Analysts suggest that the overall increase in precious metal prices reflects growing investor confidence in physical assets.
With gold and silver both breaking previous records, market experts expect prices to remain volatile in the coming days. However, many anticipate continued strength in the bullion market, especially if global inflation and geopolitical tensions persist. For Pakistani consumers, the soaring prices have made gold jewellery more expensive, adding financial pressure ahead of the wedding season.